“The PM has talked about wanting to ramp up housebuilding, but we need action”: response to Nationwide House Price Index
Nationwide Building Society has published its latest House Price Index, which found that house prices rose by 0.5% in July. The index noted that the housing stock on estate agents’ books is close to its lowest levels for 30 years, and warned that housebuilders may respond to Brexit-related uncertainty by delaying construction.
In response, Ian Thomas, Co-Founder and Director of LendInvest, made the following comments:
The fundamentals of the property market remain strong. There is an acute shortage of new housing being built, and with an interest rate cut apparently on the horizon, borrowing will become even cheaper. Demand will continue to outstrip supply.
The Prime Minister has talked about wanting to ramp up housebuilding, but now we need action. This isn’t an issue that can be kicked into the long grass.
About LendInvest
LendInvest is the UK’s leading platform for property finance.
LendInvest offers short-term, development and buy-to-let mortgages to intermediaries, landlords and developers. Its proprietary technology and user experience are designed to make it simpler for both borrowers and investors to access property finance.LendInvest has lent over £3bn of short term, development and buy to let mortgages.
Its funders and investors include global institutions such as HSBC, Citigroup and NAB, and, in 2019, it was the first Fintech to securitise a portfolio of BTL mortgages. The company has reported annual profitable growth since 2015 and was named Digital Innovation Award Winner at the Sunday Times Tech Track 100 Awards, and both Specialist Lender and Buy-to-Let Lender of the Year for 2019 at the last NACFB awards.